TRON founder Justin Sun proposed a hypothetical plan for Ethereum and the Ethereum Foundation (EF) under his leadership. His comments come as EF is facing controversy over a change in leadership.
In a series of posts on X (formerly Twitter), Ethereum co-founder Vitalik Buterin outlined the goals and progress of the reform. He emphasizes on improving technical knowledge, ecosystem interactions and operational efficiency.
Justin Sun Outlines Leadership Roadmap for Ethereum
The TRON CEO shared bold ideas on how he would lead the Ethereum Foundation if given the chance. Sun’s vision, shared on X, includes a four-point plan to completely restructure EF’s operations, optimize Ethereum’s economic model, and push ETH price to $10,000.
“If EF and Ethereum are under my leadership, ETH will reach $10,000,” Sun declare.
Sun proposed an immediate halt to ETH sales for three years to stabilize supply and boost market confidence. He suggests covering EF’s operational costs through DeFi protocols like Aave, staking yields, and stablecoin borrowing, which is in line with Ethereum’s deflationary goals.
A key element of his plan is to impose a significant tax on Layer 2 (L2) solutions, aiming to generate $5 billion annually. The tax collected will be used to buy back and burn ETH, increasing its scarcity and value.
Sun also called for drastic cuts in EF staff, retaining only the best performers and proposed significant salary increases for them. He believes this performance-based approach will streamline operations and improve efficiency.
Finally, Sun emphasized adjusting node rewards and increasing fee burning to reinforce Ethereum’s deflationary narrative. He proposed focusing all resources on Ethereum’s core L1 development, focusing on scalability, security, and adoption. Justin Sun’s plan has drawn mixed reactions, with some praising the bold vision.
“These are all very practical ideas. Look out for them and check out, Vitalik Buterin,” 0xSea.eth core developer recommended.
Meanwhile, others challenged Sun to focus on TRON and explore bringing DeFi (DeFi) into its ecosystem.
“Maybe it should start with making DeFi on TRON great – you should ask your ops team (and yourself), “Why doesn’t DeFi exist on TRON even though it is the chain with the most stable coins?” If you answer this, maybe TRON can beat Ethereum one day,” ZIGChain co-founder Abdul Rafay Gadit commented.
Vitalik Buterin Defends Leader Amid Wave of Criticism
Sun’s proposed solution is in line with Vitalik Buterin’s recent post about current changes that have taken place over the past year, some of which have already been implemented. Buterin emphasized goals such as strengthening EF’s technical leadership and improving collaboration with ecosystem partners. He also addressed concerns, dismissing the idea that the EF could adopt a centralized or politically motivated role.
“…these things are not what EF does and this will not change. Other vision seekers are welcome to start their own organizations,” Buterin stated clearly.
Aya Miyaguchi, an EF executive, confirm ongoing effort, showing excitement about upcoming announcements. She noted that the reforms aim to strengthen Ethereum’s position as a globally neutral platform, while espousing decentralized and privacy-preserving technologies.
This announcement stirred controversy in the cryptocurrency community. Opponents claim that the current leadership has failed to manage Ethereum effectively.
“With respect, let new blood take over. You guys can’t even make a simple Twitter account work – how can you be trusted to lead the 2nd largest blockchain,” Wazz commented.
Another user, Coinmamba, propose that pressuring Miyaguchi to step down could help Ethereum reach new heights. Buterin strongly objected to these comments, defending Miyaguchi and criticizing the toxicity of such language on social networks.
“Are not. This is not how this game works,” Buterin countered. “The person who decides the EF leadership team is me. If you ‘keep the pressure on,’ you are creating a negative environment for top talent. YOU ARE MAKING MY JOB HARD,” said Ethereum co-founder whined.
Buterin also denied specific accusations against Miyaguchi, pointing to errors in translation and misunderstandings of her statements. He reaffirmed the need for a “true council” within EF to improve governance.
Ethereum’s ETH token is trading at $3,305 at the time of writing, representing a slight increase of 0.2% since Wednesday’s trading open.